There are six factors to consider when investing in property in 2017. These are that: • Asking prices will be ‘soft’ — and open to negotiation: • London prices are set to fall: • We’re entering a prolonged period of stagnation • Most Londoners move to within commuting distance of the capital, so popular locations are set to boom further. • Modern houses are anticipated to be the most popular house type in 2017 • Investors are likely to reduce mortgage debt and buy more for cash or with smaller mortgages in higher- yielding locations such as Manchester, Leeds and Birmingham
Key Takeaways:
- Buyers and sellers will have to work harder to cut the best deals in what experts forecast will be an uncertain market in 2017.
- London prices are set to fall: The Office for National Statistics says an average home in the capital now costs £474,000, which is simply unaffordable for many buyers
- Most Londoners move to within commuting distance of the capital, so popular locations are set to boom further.
“Canny consumers will have to get timing, pricing and marketing dead right to find and take advantage of the best deals.”